BC Liberals continue to fight BC NDP’s speculation tax

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BC Liberal Finance Critic Mike Bernier spent the last day of the legislative session doubling down on his party’s opposition to the speculation tax.

Bernier spent much of Finance budget estimates raising concerns on behalf of people with multiple or vacant properties subject to the speculation tax. The tax applies to properties left empty in the urban areas hit hardest by the housing crisis.

Analysis by the Canada Mortgage and Housing Corporation shows the tax helped add thousands of condos to the rental market in Metro Vancouver.

Public polls have consistently shown overwhelming support for the speculation tax.

More than 99.9% of British Columbians are exempt from paying the tax. Foreign owners, satellite families, Canadians from outside BC, and other non-BC resident owners paid more than 92% of the tax levied.